Banks might help Ukraine with gas funds - Barroso

17:26, 19 June 2009
Ukraine
828 0

"There is the risk of another major gas crisis..."

International financial institutions are willing to help provide "stop-gap funding" to Ukraine to help it deal with problems paying for Russian gas imports, European Commission President Jose Manuel Barroso said on Friday, Reuters reported.

Barroso was briefing a summit of European leaders on Ukraine`s financial problems and the threat that might lead to Russia cutting off gas supplies next month, including gas intended for transit to Europe.

Barroso said he spoke on Thursday with International Financial Institutions (IFIs) including the International Monetary Fund and European gas companies to find a way through the impasse.

"IFIs and the European gas companies said they were willing... to help provide stop-gap funding," Barroso said, according to speaking notes seen by Reuters.

"There is the risk of another major gas crisis in weeks," he later told reporters.

Reuters

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